Hi, need to submit a 750 words paper on the topic Marketing Plan of Beats by dre. Assignment: Part D. Usually, the goal is posting high revenues from the sales of a product in the market (Czinkota & Ronkainen, 2007). For the case of Beats by Dre, the plan is seeking to strengthen the position of the product in the market by increasing sales. Objectives of the plan The marketer expects to benefit from the plan in six months time. Within the period, the device will have sold in more than 50 countries. An increase in sales will boost earnings from the sales of the product (Kotler & Armstrong, 2012). The number products sold will determine effectiveness of the marketing plan. Alternatively, positive response from the users of the product will determine the success of the product in the market. The brand’s mission is becoming the leader in distribution of entertainment technological devices. The financial goal of the company in a year’s time is soliciting funds to increase the production and distribution of headphones to the market for young shoppers. Marketing strategy According to Kotler & Armstrong (2012), segmentation is critical to penetrating a market dominated by young shoppers. For the case of beats by Dre, marketers should use inter-market segmentation strategy where shoppers base the choice on taste and preferences for technological efficiency of the product. Additionally, the company should monitor the behavior of the customers before segmenting the market. The measures should necessitate coordination since customers prefer purchasing headphones that produce high quality sound. As noted by Kotler & Armstrong (2012), the comfort of a device is a priority to shoppers. Furthermore, customers prefer using gadgets that fit well regardless of the price. A majority of consumers of electronics are not concerned with price when selecting music devices. This means that marketers will focus on place, promotion and the products position in the market when marketing the device (Choi, 2011). Designing a marketing plan for Beats products requires that one understands the dynamics that characterize the market and factors that influence customers’ decision when purchasing Beats by Dre. It is necessary for the marketer to identify the market for the product before proceeding with creating the marketing plan (Dibb & Simkin, 2008) & (Kleindl, 2007). Secondly, the marketer should focus on satisfying the needs of different consumers in the market when designing the plan. Consequently, it is fundamental for the marketer to state the objective of entire process, before beginning the process of identifying the focus area in the market (Surchi, 2011). Lovers of headphones have similar taste when it comes to demanding products that exude excellence in performance. The emission of high quality sounds from the devices is very critical for the success of a product in the market. Consequently, manufacturers insist on producing gadgets that produce high quality sounds (Ryans, 2000). In order to carve a niche in the market, the marketers will employ different techniques in promoting the device. One of the strategies will entail the use of marketing mix (Wind, 2008). In the mix, the marketers will consider the social and environmental factors that drive the sale of electronic devices (McDonald & Keegan, 2002).
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